Capa Corporation is considering the purchase of a new machine costing $300,000. The machine would generate net cash inflows of $87,380 per year for 5 years. At the end of 5 years, the machine would have no salvage value. Capa's cost of capital is 12 percent. Capa uses straight-line depreciation. The present value factors of annuity of $1.00 for different rates of return are as follows: Period 12% 14% 16% 18% 4 3.03735 2.91371 2.79818 2.69006 5 3.60478 3.43308 3.27429 3.12717 6 4.11141 3.88867 3.68474 3.49760 The proposal's internal rate of return (rounded to the nearest percent) is: Select one: a. 18 percent b. 12 percent Oc. 14 percent Od. 16 percent